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Why AeroVironment (AVAV) Dipped More Than Broader Market Today
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AeroVironment (AVAV - Free Report) ended the recent trading session at $120.60, demonstrating a -5.14% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 1.88%.
Shares of the maker of unmanned aircrafts witnessed a loss of 19.02% over the previous month, trailing the performance of the Aerospace sector with its loss of 7.8%, and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of AeroVironment in its upcoming release. The company is forecasted to report an EPS of $0.37, showcasing a 15.91% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $508.79 million, indicating a 7.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.26 per share and a revenue of $2.21 billion, demonstrating changes of -1.51% and +11.71%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for AeroVironment. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.37% higher within the past month. AeroVironment presently features a Zacks Rank of #3 (Hold).
Investors should also note AeroVironment's current valuation metrics, including its Forward P/E ratio of 38.96. Its industry sports an average Forward P/E of 31.66, so one might conclude that AeroVironment is trading at a premium comparatively.
One should further note that AVAV currently holds a PEG ratio of 2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Aerospace - Defense Equipment industry was having an average PEG ratio of 2.04.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Why AeroVironment (AVAV) Dipped More Than Broader Market Today
AeroVironment (AVAV - Free Report) ended the recent trading session at $120.60, demonstrating a -5.14% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 1.88%.
Shares of the maker of unmanned aircrafts witnessed a loss of 19.02% over the previous month, trailing the performance of the Aerospace sector with its loss of 7.8%, and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of AeroVironment in its upcoming release. The company is forecasted to report an EPS of $0.37, showcasing a 15.91% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $508.79 million, indicating a 7.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.26 per share and a revenue of $2.21 billion, demonstrating changes of -1.51% and +11.71%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for AeroVironment. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.37% higher within the past month. AeroVironment presently features a Zacks Rank of #3 (Hold).
Investors should also note AeroVironment's current valuation metrics, including its Forward P/E ratio of 38.96. Its industry sports an average Forward P/E of 31.66, so one might conclude that AeroVironment is trading at a premium comparatively.
One should further note that AVAV currently holds a PEG ratio of 2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Aerospace - Defense Equipment industry was having an average PEG ratio of 2.04.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.